What is Hashflare Mining? – A Scam or a Legit Platform?

Today we take a look at Hashflare for you. What is Hashflare Mining? A scam or a legit platform for you to use? How does it really work? Are there better alternatives out there for you? These are some of the questions this short review will answer. Ok, let´s go!

What is Hashflare Mining – Intro

Hashflare is a platform where you can very easily start mining Cryptocurrencies like Bitcoin and Ethereum in a few clicks of a mouse. It has been online since 2014 and is often referred to as one of the easiest mining platforms too getting started with. It is a very popular platform that is used by people all over the world.

In the jungle of mining platforms to choose from online it can, be hard to separate the legit ones from the scam ones, this review will try to uncover what category to place Hashflare

How does it work?

It is super simple to start using Hashflare, as it is a cloud-based platform you do not need to download anything at all. It basically works in 2 steps, you sign up and then after that, you buy hash rate, that´s it. You can then sit back and watch your mining earnings grow literally daily.

1: Sign up

2: Buy hash rate

How can you pay?

How do you pay the hash rate you buy? There are 3 options for this:

Bitcoin

Creditcard

Payeer

You can also pay with your existing balance later on, with your earnings from the mining for example. There is also an option to reinvest your earnings from the mining into buying more hash power.

The reinvest function can also be set to “auto reinvest” if you want to.

Is it a Ponzi scheme?

This is the most important question, in my opinion, we have seen many so-called “mining” platforms show up online that in fact are not got anything to do with mining at all, it is just a cover-up for a Ponzi scheme.

Just to name one that gained a lot of popularity last year named Power Mining Pool that obviously was a Ponzi… It didn´t stop people from putting A LOT of money into it though… Some made it back, but most lost money in it.

Below is a video that I think covers this question pretty well:

The pros and cons

As always I will provide you with the pros and cons of the particular company we have reviewed, below are some clear ones:

The good

Super simple to use

You can pay with a credit card

The bad

Earnings are slow

There is no evidence of the mining rigs existence

Are there better options out there?

There are MANY mining platforms to choose from, most of them are complete scams to be real, however, there are of course legit ones out there as well. I believe that if you are a beginner Hashflare is a pretty good option, however, there is a similar beginner friendly cloud-based platform that actually has proved that they got a mining rig that is named Genesis Mining. It is just as simple to use (if not easier) as Hashflare.

Final words and verdict on Hashflare

Verdict: Legit (for now)

Overall rating: (3.5 / 5)

Ok, I think that sums up the overall picture of Hashflare pretty good. Have to call it legit for now, it has been around and working since 2014 and that is a long time if it is a Ponzi, not saying that it is not but it actually does not have to be. The rating 3,5 out of 5 stars feels very fair, it can of course change to a both higher or lower one in the future as we make sure to update our reviews whenever any “news” comes up on the particular company.

As always the choice is up to you. Just keep in mind to NEVER invest more money than you can afford to lose into this or anything else for that matter. There is no such thing as bulletproof investments as you simply never know what will happen in the future.

I hope you found this short review on Hashflare Mining to be helpful and now you should have a better understanding of what it is and if it is something for you or not. If you have used it yourself please share your experience in the comment section below as it can help others. Also, if you got any other question about this review I will be more than happy to answer them below.